, India

PTT buys 41.6% shares in Indian solar company

The shares were bought for $453m.

The power generation arm of Thailand state-owned PTT Group, Global Power Synergy Public Company Limited (GPSC), has acquired a 41.6% of equity interest in Avaada Energy Private Limited with a total investment of THB148b (approximately $453m).

The deal was made through GPSC’s subsidiary Global Renewable Synergy Company Limited (GRSC) with the law firm Latham & Watkins advising.

The investment enhances GRSC’s expertise in solar power generation and is intended to capitalize on expected growth in Avaada’s portfolio following the Indian government’s plans to increase the supply of electricity from renewable sources by 2030.

GRSC is a wholly-owned subsidiary of GPSC which engages primarily in the production and distribution of electricity, steam, industrial water, and public utilities. GPSC is a unit of the state-owned energy company, PTT Public Company Limited.

Follow the links for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


India removes licence requirement to build transmission lines for bulk consumers
The rule applies to those with at least 25 MW of load for inter-state connection and at least 10 MW for intra-state.
NEFIN Group works double time to catch up on projects
CEO Glenn Lim explains how a delay turned out good as the company aims to reach 667 MW of capacity by 2026.
Summit Power International provides vital LNG support to Bangladesh
Without cross-border electricity supply, LNG is needed by a country facing geographical constraints to deploy renewables.